PBF Energy Inc (PBF) is a petroleum product supply and refining company headquartered in New Jersey. PBF just closed at $32.01 and has traded in a 52-week range of $20.17-$32.41. Today, a trader bought 10,000 PBF Jan 2015 35-40 Bull Call Spreads for $1.80 debit. This is extremely bullish activity for the stock. Of the ten analysts covering PBF five have issued a “Hold” rating and four issued a “Buy” rating making the company a consensus “Hold”. PBF Energy beat earnings last quarter and is looking to improve for the rest of the year. Furthermore, it issued its quarterly dividend today, giving shareholders 30 cents per share.
My Trade: I bought the PBF Jan 2015 35 Calls for $2.00 debit
Risk: $200 per 1 lot
Targets: $2.20, $2.40, $2.60, $2.80, and $3.00
Greeks of this Trade:
Delta: Long
Gamma: Long
Theta: Short
Vega: Long